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>>And yet, people consume more healthcare, education, and live in bigger homes than ever before (as measured by consumption statistics). So that clearly can't b
by enraged_camel 10y ago
>>And yet, people consume more healthcare, education, and live in bigger homes than ever before (as measured by consumption statistics). So that clearly can't be the issue.
Of course it can. Ever heard of debt?
- noobiemcfoob 10y ago> Ever heard of debt? I lold. Shouldn't there be corresponding data on debt then? National individual debt rising in relation? Without data on hand, though, I do believe that has been the case
- enraged_camel 10y agoWe have plenty of data. Take a look at this: http://www.slate.com/articles/business/the_united_states_of_debt/2016/05/the_rise_of_household_debt_in_the_u_s_in_five_charts.html http://www.slate.com/articles/business/the_united_states_of_...
- idiot_stick 10y agoWhat about rising household net worth?: https://fred.stlouisfed.org/series/TNWBSHNO https://fred.stlouisfed.org/series/TNWBSHNO
- ArkyBeagle 10y agoThat's mostly housing, which was financed by debt.
- mee_too 10y agoDebt is not magic. Somebody or something has to build the houses, provide the healthcare and education.
- arcanus 10y agoYes. In the case of debt, that somebody or something is being financed by the future.
- woah 10y agoWhat does this mean? Someone builds a house and has their livelihood provided for while they do it. Once the house exists, it can be used for shelter. Money is imaginary. What is "financed by the future" and what does it mean?
- dvtv75 10y agoStudent loans. That's what "financed by the future" means.
- gaius 10y agoIt means that money is worthless unless it can eventually be converted into goods and services that you want. Debt means "money now, goods and services in the future". But what happens when you arrive in the future - as inevitably you will - and those things aren't there?
- ArkyBeagle 10y agoIt kind-of is magic - that is how money gets created.